CHAIRMAN JOHNSON COMMENTS ON VOLCKER RULE

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after financial regulators approved the “Volcker Rule,” a Wall Street Reform provision that bans proprietary trading by banks.

“Today's approval of the final Volcker Rule is a key milestone in the full implementation of Wall Street Reform and these trading restrictions will help improve the integrity of our banking system. I commend all the individuals involved in this monumental effort for the many years of dedication, hard work and inter-agency cooperation that led to today's joint announcement, and I look forward to reviewing the details of this important rule.”

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